IMF Bentham announces dismissal of US arbitration

Company News

by Anna Napoli

Litigation funder IMF Bentham (ASX:IMF) has today announced the dismissal of an arbitration it funded in the United States through Fund 1.

Fund 1’s investment portfolio contains 36 remaining investments, which as at the end of last year, had an earnings power value (EPV) of about $2.95 billion.

IMF says while there is no cash impact resulting from the dismissal of the arbitration it will write down its Fund 1 and consolidated intangible asset balance by $9.39 million, creating a corresponding loss on the investment in Fund 1.

The business says there are a number of other US investments that have recently been completed or are at stages close to completion. These will be announced in our next quarterly investment portfolio report.

Shares in IMF Bentham (ASX:IMF) are trading 3.38 per cent lower at $2.57.